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Home My WebLink About0974 ~ . i ~ It Lender required mortgage insurancs as a condition of making lhe loan secured by this Secur~ry irutrument, Borrower shall pay the premiums required to mainlain the ~nsurance in ettect until such time as the requuement br the insurance terminates m accordance with Borrower's and le~der's written agreemsnt or applicabte law. Insp~Ctbn. Le~der or its agent may make ~essonable entries upon and inspections of the Property. Lender shalt give 8arower ndice et the time of or prior to an inspection specitying reasonable cause for the inspection. A Cond~m~atlon. The proceeds of any award or cla+m for damages, dir~ct or consequential, in connection with any t~ condemnation or other taking of any part of ihe Property, or (or conveyance in tieu of oondemnation, are hereby assigned and shall i be paid to Lender. ! In the event of a total taking of the Propeity, ihe proceeds shall be applied to the sums secured by this Securiry I nstrument. ! wheiher or not then due, with any exCess paid io Borrower. In the event ot a partial laking of the Property, unless Borrower and lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the prpceeds multiplied by the following fraction: (a) the tdal amount ot the 5ums secured immediately before the taking, divided by (b) the tair r~,..~~.~ ~tiQ ~~4~.,n Anv hslanrs~ chzill h[3 (~Aid tA B(XfOWef. IIIdInCi vqillt7 vi ii~c i ~vNc~~y ni.~~~i:.uu....~ ~ . ::.,.::.y. _ . . _ . It the Property is abandoned by Borrower, or if, after notice by lender to Borr~we? that ihe condemnor otfers to make an award o~ serile a claim for damages. Borrower faits to respond to lender within 3Q days after the date thenotice is given, Lender is authorized to coltect and appty the proceeds, at its option, eiiher to resloration or repair of the Property or to the sums secured by this Secur+ty trtstrument, whelher Or no! then due. Unless Lender and Bonower otherwise agree in writing, any application of proceeds to principal shall not extend or poslpone the due date of the monthy payments referred to in paragraphs 1 and 2 to change the amount of such payments. ~ 10. BonowK Not RN~aa~ fort~aranee By l~ndK Not a WahrK. Extension of ihe time for payment cx moditication ot amortization ot the sums secured by this Securiry Instrument granted by lender taany successor in interest of Borrower shall not operate to release the liability of the original Borrower or Barower~s successors in interest. Lend~r sha11 nat be required to commence proceedings against arry successor in interest w refuse to extend time for paymeni or otherwisemodify amortizalion of the sums secured ?~y this SeCUrity Instrument by reason of any demand made by the origina) Borrower or Borrower's successors in interest. Any forbearance by lender in exercising any right or remedy shall not be a waiver of or preClude 1he exercise of any right or remedy. 11. Sutx~swrs and Assl~ns Boun~ Jolnt and SwKal Llabiltty; Co-si~nars. The covenants and agreements of this Security Insirument shall bind and benetit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreernents shaN be joint and several. Arry Borrower who co-signs this Security Inslrument bul does not exeCUte the Note: (a) is Co-signing this Security Instrument onty to mortgage, grant and Convey thai Borrower's interest in the Property under the terms ot this Security Instrument: (bj is r~ot personalry obligated to pay the sums secured by ihis Security Instrument and (c) agrees that lender and any other Borrower may agree t~ extend. modify. forbear or make any accommodations wiih regard to the terms of this Security Instrument or the Note without that Borrower's consent. 12. Loan Chu~s. If the loan secured by this Security Insirument is subject to a law which sets maximum ban charges, and that law is finally interpreted so that the interest or other loan charges coliected or to be collected in cannection with the loan exceed the permitted limits, rhen: (a) any such loan charge shall be reduced by the amount necessary to reduce the chargetothe permitted timd; and (b) arry sums already collected fram Borrower which exceeded permitted limits will be refun~ed to Borrower. ~ Lender may chooseio make this refund by reducingthe principal owed under the Noteor by making a direct payment to Borrower. It ~ a refund reduces principal, the reduction wilt be treated as a partiat prepayment without any prepayment charge under the Note. 13. Lt~blatian Aff~eNnQ L~nd~s Rl~hts. If enactment or expi~ation ot applicable laws has ihe effect of rendering any provision of the Mote or this Security lnstrument unentorceable according to its terms, Lender, at ~ts option, may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies pefmitted by paragraph 19. It Lender exercises this option, Lender shall take the steps specified in the second paragraph af paragraph 17. 14. Notfces. Any notice to Borrower provided for in thls Security Instrument shall be given by delivering rt or by mailin~ it by ~irst class mail unless applicable law requires use ot another method. The notice shall be directed tothe Property Address or any other address Borrower designates by notice to Lender. Arry notice to Lender shail be given by first class mait to Lender's address stated herein ~r any other address Lender designates by notice to Borrower. Any notice provided for in this Security lnst?umeni shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 1S. GOV~rnlnq Law; 8~rKaWlfty. This Security Instrument shai! be gov2rned by fedsral law and the law of the jurfsdiction in which the Property is located. tn the event that any prov~sion or clause oi th~s Security Instrumeni or the Note conflids with applicable law, such conflict shali not affect other provisions of this Security Instrument a the Note which can be given effect without the confliciing provision. To ihis end the provisions of this 5ecurity Instrument and the Note are declared to be severable. 1d. Borrow~r's Cop~?. Borrower shail be given one conformed copy of the Note and of this Security Instrument. 17. Transfef of thf PropKt~r o? a B~nNldal IntarMt in Borow~r. If a!I or any part of the Proaerty or any interest in it is sold or transferred (or rf a beneficial interest in Borrower is sold or transferred and Barrower is not a natural person) without Lender's prior written consent. Lender may, at ds option, require immediate payment in ful! of a!I sums secured by this Security Instrument. However, this option shall not be exercised by Lender it exercise is p?ohi~ited by federal faw as of the date of this SPcurity ?nsirument. It Lender exercises this option. Lender shall give Borrower nolice of acceleration. 1'he notice shall provide a period ot nct less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Securih~r I~strument. if Borrower faits to pay these sums prior to the expiration of th~s period, Lender may invoke any re,Tedies permitted by this Security Instrument without furiher notice or demand on Borrower. 18. BonowK's RI~M to Relnstat~. If Borrower meets certain conditions, Borrower shalt have the right to have enforcement of this Security tnslrument discoMinued at any time prior to the sarl+er of; {a) 5 days (or such oiher period as applicable law may specify tar reinstatement) before sale of the Property pursuant to any power of sale contained in this Security lnstrument; or (b) entry of a judgment er~torcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under tt~is Security Instrument and the Note had no acceleration occurred: (b) cures any defauft oi any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorney's fees: and takes such action as lender may reasonably require to assure that the I~en of this Security Instrument, Lender's rights in the Property and Borrower's obl~gation te pay ihe sums secured by this Security Instrument shall con!inue unchanged. Upon reinstatement by Borrower, this Security Instrument andthe obligations secured hereby st~aH remain `u1y eftective ~'rf_ no $cceleration had occurred. However, this right to reinstate shall not appty in the case ot acceleration under , paragraphs 13 or 17. ~ BOOK PAGE J~4 _ : _ ~ , . r _ _ ~ _ ~ ~ ~ . _ . _ . _ . ~